Mode of Creation In English, a corporation may be created (i) either by Act of Parliament, (ii) or

This essay will discuss obligatory elements in implementing the breach of Section 184 of the Corporations Act 2001 by Mr Clive Palmer. Corporation law is a wide concept of law which comprise of all the legal issues related to Business organisations. With the help of reference to relevant case law this essay will argue that Mr Palmer breached section 184 of the Corporation Act 2001 by not acting in good faith, improper use of position and information and intentional bad business judgements. This essay will provide sufficient evidence that Mr Palmer should be examined by ASIC, hence agreeing with the voluntary administrator.

2 This is an OPEN book examination. You can only use your prescribed text book and the Corporations Act 2001. No other materials are allowed.

Section 237: Power of Central Government to Provide for amalgamation of Companies in Public Interest

The concept of forming of corporations by registration and restricted liability of stake holders of corporations dates back to mid nineteenth century. The concept in its very basic sense means that a company is a separate legal entity, in other words, it is a juristic person.

Learning Objective 1.2 ~ discuss the different types of companies which may be formed under the Corporations Act 2001

Limited Company – Organisations set up to run your business. They must adhere to legislation such as The Companies Act 2006. This act sets out duties the appointed director holds. For example, to ‘act within your power as a company director’. These businesses need to be registered with Companies House and must submit any important

Incorporation is an authorities subscription process that creates a fresh legal entity. Being a legal entity, the created company is given the same capabilities in legislation as a 'natural' person.

The Company Corporation, also known as www.incorporate.com, was founded in 1972. The Company Corporation is an affiliate of Corporation Service Company (CSC), which was formed by two 1899 period pioneers, Christopher Ward and Josiah Marvel. The Company Corporation's entire focus is on assisting small business owners to form their companies.

In Australian, a proprietary company need to registered to start its business under corporation Act 2001. This is is a common wealth legislation administered by the ASIC. Normally, a corporation does not have a legal existence before the registration. Registration of a company makes it can be treated as a legal entity . The company can have its own name to hold its property, it can enter into a contract or rescind, also the company can be sued or sue the others. Registration is the most important but not the only thing to establish a business. Before the registration, a company may be have to entry into a contract. Before the pre-registration, the contract always void because the company is not a legal entity. So the pre-registration contracts cause many legal problems of the rights and responsibilities. The pre-registration contracts have different explains in the Australian legal system, the most important are the common law and the statute law.

A company before the enforcement CMCHA 2007 could be prosecuted for a wide range of criminal offences. In order for the company to be guilty of the offence, it was additionally vital for

Most of the Australian corporation law has been brought from Company Law of United kingdom. Australian corporation law legally structured by only one national statute, i.e. Corporation Act 2001. The Australian Securities and Investments Commission is the only regulatory authority who administrate this statute (Corporation Act 2001) throughout the whole nation. ASIC regulates Australia’s corporate, markets and financial services. This authority is set up as per and administer the ASIC Act 2001. ASIC carries most of its work according to the Corporation Act 2001. In the essay below with the help and reference of some case examples and subsections of Corporation Act 2001 I have discussed about the signs of insolvent company, what actions should

We note that FlatWhite Pty Ltd adopted a constitution that displaced all of the replaceable rules in the Corporations Act in accordance with s 136(1) of the Act.

The concept of a company being a separate legal entity is the most striking illustration in separating the company from its owners. A paramount principle of corporate law is that no shareholder or member of a company is made liable for the obligations incurred by such incorporations A company is different from its members in the eyes of law. In continuations to this the opposite also holds true in the sense that neither can the company be held liable for the acts of its members. It is a fundamental distinction that a company is distinct from its members.

Act was made law in 1984 but was replaced by a new Act in 1998 to

Some of the main effects of the Companies Act on private companies are: an individual and simplified model of Articles of Association; individual requirements for accounting and reporting; no requirement for a company secretary; no requirement for an annual meeting; and simplified rules about share capital, (companieshouse.gov.uk, 2014). The key benefits of the Companies Act for shareholders